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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


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BFCSA: Angry Letters from Victims of Lazy ASIC re Sterling Collapse # 5

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26th June 2019

Chairman of ASIC

On 16th April 2018, following due diligence, my wife and I signed a 40 year lease worth $254,000 through a Silverlink Investment Plan with Sterling New Life. Little did we know that SNL operations had been under ASIC investigation for some time. Had we known this we would not have proceeded. ASIC failed in its duty of care to the consumer.

We hold ASIC responsible for the loss of most of our savings and for the modestly safe retirement we were seeking to secure. We are seeking redress for ourselves and the many others who were similarly negligently deceived while it was ASIC’s duty of care to act and prevent the continuing scandalous behaviour of the SNL directrors.

We believe redress should include urgent compensation in full of all monies invested and lost in the Sterling New Life companies.  They represent the hard earned life savings of ordinary people who were merely seeking a safe retirement.



Yours sincerely


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Guest Monday, 19 October 2020